The retailer expects to report profits of up to£800,000 in the year to December 2007 and sales of£30 million. It has also achieved like-for-like growth of more than 10 per cent from September to date. Last year, it reported a modest profit of£120,000 and sales of£20 million.
In the next six weeks Blue Inc will open six stores, taking its portfolio to 51. This year, it will have opened 15 stores in locations such as Derby, Warrington, Watford and Milton Keynes. The store count has almost doubled since it was bought by private consortium Marlow Retail in January last year.
Blue Inc managing director Steven Cohen said: “Following the roll-out of our new concept and store openings, we are confident of achieving further growth in the period ahead.”
Next week, Blue Inc will re-launch its transactional web site, which has undergone a redesign. Cohen expects it will soon rival its top-performing stores in terms of turnover.
The retailer plans to continue growing organically, while actively searching for new brands.
Property agent CBRE is acting for Blue Inc in its expansion.
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